Sezzle Inc. has introduced a virtual card in Canada that can be added to Apple Pay and Google Wallet, allowing shoppers to use the card for contactless payments at merchants such as SoftMoc, JD Sports Canada, and Mastermind Toys. The card is powered by Marqeta’s modern card‑issuing platform, which provides instant issuance, dynamic spend controls, and real‑time spending insights without requiring additional merchant integration.
The launch extends Sezzle’s buy‑now‑pay‑later service beyond its traditional online checkout button, positioning the company to capture a larger share of Canada’s rapidly growing BNPL market, projected to reach 91.5 million users in 2025. Sezzle already serves 1.9 million users in Canada, has processed nearly 7 million orders, and has 60,000 users of its credit‑building product, Sezzle Up, underscoring the company’s strong foothold in the country.
By embedding the virtual card in digital wallets, Sezzle removes friction for consumers who want to shop in‑store while still enjoying the flexibility of BNPL. The partnership with Marqeta enables instant card issuance and real‑time transaction monitoring, giving merchants and consumers a seamless experience that rivals traditional credit cards.
Sezzle’s recent financial performance supports the strategic timing of the launch. In Q4 2025 the company reported revenue of $129.87 million, a 32.3% year‑over‑year increase, and earnings per share of $1.21 versus $0.73 in the same quarter a year earlier. Management has guided FY2026 earnings per share to $4.35–$4.70, a range that reflects confidence in continued growth and margin stability, even as analysts have expressed mixed views on the company’s valuation.
Patrick Chan, General Manager of Sezzle Canada, said the virtual card “marks a major milestone for Sezzle in Canada. By enabling shoppers to use a Sezzle virtual card, we’re dramatically expanding access to flexible payments.” Todd Pollak, Chief Revenue Officer at Marqeta, added that the success of the U.S. launch “has positioned us to bring the same momentum to the Canadian market.” The move places Sezzle in direct competition with global BNPL players such as Klarna, PayPal, and Shopify’s Shop Pay Installments, while also challenging traditional credit card issuers.
Analysts have issued a range of opinions on the launch. Some have upgraded their outlooks, citing the strong Q4 earnings beat and the strategic expansion into in‑store payments, while others have expressed caution due to insider selling, governance changes, and the competitive intensity of the BNPL space. Overall, the market reaction reflects a balance between optimism about Sezzle’s growth prospects and concern about the broader industry dynamics.
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